Newfoundland and Labrador · CCAA
Monitor's Twelfth Report dated November 10, 2025.pdf
Court officer report · 10 November 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2025-10-31 · kind: cumulative · quote: The Monitor incurred 1,566.75 hours through October 31, 2025, at an average rate of approximately $451.39/hour. · approval: state: unstated · averages: rate: 451.39 · quote: at an average rate of approximately $451.39/hour · currency: · invoices: · firm text: Grant Thornton Limited · firm quote: TWELFTH REPORT OF GRANT THORNTON LIMITED, IN ITS CAPACITY AS MONITOR OF KARWOOD ESTATES INC. AND GREGG CONSTRUCTION LIMITED · hours total: quote: The Monitor incurred 1,566.75 hours through October 31, 2025, at an average rate of approximately $451.39/hour. · value: 1566.75 · context quote: IN ITS CAPACITY AS MONITOR OF KARWOOD ESTATES INC. AND GREGG CONSTRUCTION LIMITED; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 605.89 · quote: at an average hourly rate of $605.89 (exclusive of HST) · currency: · invoices: · firm text: RECON · firm quote: RECON incurred a total of 307.9 hours, at an average hourly rate of $605.89 (exclusive of HST). · hours total: quote: RECON incurred a total of 307.9 hours, at an average hourly rate of $605.89 (exclusive of HST). · value: 307.9 · context quote: RECON incurred a total of 307.9 hours, at an average hourly rate of $605.89 (exclusive of HST).
- recovery outcomeentries: basis: estimated · quote: the Monitor notes that the proceeds available will not be sufficient to repay the secured creditors in their entirety, resulting in no distribution being available to the Companies' unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: the Companies' unsecured creditors (KEI Transaction) · interim final: unstated · table missing: · conditional on: KEI Transaction approved by the Court · claims qualifier: unstated; basis: estimated · quote: Although the GCL Transaction through an RVO does not result in a distribution to unsecured creditors, the Monitor notes that a traditional approval and vesting order would not result in a different outcome given the balance owing to GCL's secured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: GCL's unsecured creditors (GCL Transaction through an RVO) · interim final: unstated · table missing: · claims qualifier: unstated; basis: estimated · quote: In the circumstances where there is no expected recovery beyond secured creditors and the motivations of the Company, BMO and the Purchaser are aligned · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: creditors of GCL beyond secured creditors · interim final: unstated · table missing: · claims qualifier: unstated · stated on: 2025-11-10 · table missing: